- Hygieia — a digital health company for insulin management — announced it has closed on an initial $17 million Series B funding. These are the details.
Hygieia — a digital health company for insulin management — announced it has closed on an initial $17 million Series B investment round led by Israeli venture capital firm Firstime Ventures, and with participation from existing investors.
Hygieia will use the funding round to expand partnerships with endocrinology practices and expand access to its unique d-Nav insulin dose automation technology for people with type 2 diabetes.
d-Nav takes the guesswork out of insulin by telling patients exactly how much insulin they need the moment they inject. And d-Nav is the first FDA-cleared technology to adjust a medication dose directly to the patient. d-Nav technology has prescribed more than 5 million insulin doses to date. Nearly 90% of users reported lower A1c within 90 days of starting the d-Nav program.
Hygieia expects to have endocrinology partnerships in 10 states over the next 2 years. Currently, Hygieia has two international licenses, in Northern Ireland and in Israel. Clalit, the largest integrated health system in Israel, is launching a pilot program with Hygieia this month.
KEY QUOTES:
“This funding is a key vote of confidence in our technology, signaling a seismic shift in the way patients and their physicians can better manage insulin therapy. We have already partnered with the leading endocrinology practices in Southeast Michigan, and this new funding will help us develop similar partnerships throughout Michigan and beyond.”
— Eran Bashan, Ph.D., CEO and co-founder of Hygieia
“Hygieia’s d-Nav technology is easily accessible through an app on the phone. We believe this technology is a game changer for the millions of people with type 2 diabetes who inject insulin, reducing the burden of disease management while substantially improving blood sugar levels. Hygieia matches the focus of our third fund, which invests in companies with trailblazing technologies that are aligned with the UN Sustainable Development Goals and perform digital transition in healthcare and the battle against the climate crisis.”
— Keren Kopilov, of Firstime Ventures
